China has warned United States President, Donald Trump that it was ready to pay any cost in an event that both countries resort to trade war. The Chinese Government made this known in a statement issued by the Ministry of Commence on Thursday.
The statement is coming after Trump had warned that he was considering $100 billion in extra tariffs. Trump had said he would impose steep tariff on steel and aluminum imports. On Tuesday the US had published a list of $50 billion in Chinese imports set to be hit by US tariffs.
Irked by the development, China responded by hitting U.S. automakers, aero companies, including Boeing, grain merchants and chipmakers. The Chinese government took less than 11 hours to respond with its own measures and it led to a sharp sell-off in global stock markets and commodities.
Reacting to China's action Trump in a speech on Thursday said in light of China’s unfair retaliation he had instructed trade officials to consider 'whether $100 billion of additional tariffs would be appropriate’.
Meanwhile, China's Ministry of Commerce has said “If the US side disregards opposition from China and the international community and insists on carrying out unilateralism and trade protectionism, the Chinese side will take them on until the end at any cost.”
